Australian budget to target housing woes with more construction workers
SYDNEY (Reuters) - The Australian government will boost the number of skilled workers in the housing sector in next week's national budget, spending A$90.6 million ($59.76 million) on free training and making it easier for skilled construction work...
1h ago
Froot Loops maker WK Kellogg beats revenue estimates on higher prices
(Reuters) - WK Kellogg Co beat Wall Street estimates for quarterly sales on Tuesday, as higher product prices offset pressure from slowing demand for the Froot Loops maker's ready-to-eat breakfast items and snacks. Like other major brands in the pa...
1h ago
S&P 500, Dow futures inch higher ahead of Walt Disney results
(Reuters) - Futures tracking the S&P 500 and Dow edged higher on Tuesday, ahead of quarterly results from Walt Disney, while expectations of the Federal Reserve's interest rate cuts this year helped support market sentiments. The three main U.S. st...
2h ago
Ferrari's core earnings rose in Q1, sticks to FY guidance
MILAN (Reuters) - Ferrari said on Tuesday its core earnings rose 13% in the first quarter of the year as the luxury sports car maker was supported by pricing power and product mix, as well as by a greater contribution from personalisation. The Ital...
2h ago
Spirit Aero burns more cash as 737 output drops
(Reuters) -Spirit AeroSystems reported a higher first-quarter cash burn on Tuesday, squeezed by lower 737 production at the aerospace supplier's biggest customer, Boeing. Cash burn was $444 million for the three months ended March 28, compared with $69...
2h ago
Brazil's Embraer reports smaller adjusted net loss in Q1
SAO PAULO (Reuters) -Brazilian planemaker Embraer reported on Tuesday an adjusted net loss of 63.5 million reais ($12.51 million) for the first quarter, less than the 460.5 million-real loss it posted a year earlier, according to a securities filing. T...
2h ago
Mexico's auto production, exports jump in April
(Reuters) - Mexico's automotive industry saw a jump in production in April while exports also increased from a year earlier, data from national statistics agency INEGI showed on Tuesday. Production increased by 21.74% to 358,575 vehicles and auto e...
2h ago
EV truck maker Nikola misses first-quarter revenue estimates
(Reuters) - Nikola missed Wall Street expectations for quarterly revenue on Tuesday, as the electric truck maker delivered fewer hydrogen fuel cell trucks amid an uncertain macroeconomic outlook and reduced spending by customers. The company report...
3h ago
Nissan CEO: committed to staying in China but strategy there must change
PARIS (Reuters) - Nissan is committed to staying in China but the company must change its strategy in the country, Nissan CEO Makoto Uchida told a business conference hosted by the Financial Times in Paris on Tuesday. Uchida added that Nissan was i...
3h ago
Tylenol maker Kenvue beats quarterly profit estimates, to cut 4% jobs
(Reuters) - Kenvue beat Wall Street estimates for first-quarter profit on Tuesday, and said it would cut 4% of its global workforce amid the Tylenol and Band-Aid maker's efforts to expand its key brands. Since its spinoff from Johnson & Johnson in ...
3h ago
US seeks answers from Tesla in Autopilot recall probe
(Reuters) - U.S. auto safety investigators are seeking detailed answers and documents from Tesla in an investigation into the automaker's December recall of more than 2 million vehicles to install new Autopilot safeguards. The National Highway Traf...
3h ago
Disney posts surprise profit in streaming, raises earnings forecast
By Lisa Richwine LOS ANGELES (Reuters) - Walt Disney's streaming entertainment unit posted its first profit on Tuesday, two quarters ahead of schedule, and the media company raised its annual earnings per share outlook as it said turnaround efforts...
3h ago
Pakistan considers raising retirement age ahead of IMF visit
(Reuters) -Pakistan is considering raising its retirement age to reduce burgeoning pension payments ahead of the annual budget and International Monetary Fund (IMF) mission visit, the country's finance minister said on Tuesday. An IMF mission is likely...
4h ago
Perpetual to be broken up with name being sold to KKR in nearly $1 billion deal, AFR reports
(Reuters) - Australia's Perpetual will be broken up, with its name sold to global investment firm KKR & Co, in a deal worth over A$1.5 billion ($990 million), the Australian Financial Review reported on Tuesday. The transaction will represent the b...
5h ago
Tesla's China-made EV sales fall 18% y/y in April
BEIJING (Reuters) - U.S. automaker Tesla sold 62,167 China-made electric vehicles in April, down 18% from a year earlier, the China Passenger Car Association (CPCA) data showed on Tuesday. Deliveries of China-made Model 3 and Model Y vehicles slid ...
5h ago
BHP insists Anglo American's South African assets must go in any takeover, sources say
By Melanie Burton, Scott Murdoch and Lewis Jackson MELBOURNE/SYDNEY (Reuters) - BHP's plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed takeover and is expected to be a part of any revi...
6h ago
Saudi Aramco maintains $31 billion dividend despite lower Q1 net income
By Hadeel Al Sayegh DUBAI (Reuters) -Saudi Arabian state-owned oil giant Aramco expects to pay $31 billion in dividends to the Saudi government and its shareholders despite reporting lower earnings for the first quarter on Tuesday, hit by lower oil pri...
6h ago
UK house prices inch higher in April, Halifax says
LONDON (Reuters) -British house prices edged higher in April, rising 0.1% from March and up 1.1% from a year earlier, figures from mortgage lender Halifax showed on Tuesday, a slight acceleration from March's 0.4% annual growth as interest rates stay h...
7h ago
Toyota to get an earnings lift from hybrids as EV hype cools
By Daniel Leussink (Reuters) - Toyota Motor is expected to get a big lift from demand for hybrids when it reports annual earnings on Wednesday, illustrating how the world's top-selling automaker is poised to benefit as hype around battery electric ...
7h ago
German exports rise more than expected in March
By Rachel More (Reuters) - German exports rebounded in March by 0.9% on the previous month, increasing more than forecast, the federal statistics office reported on Tuesday. Analysts' polled by Reuters had expected exports to increase by 0.4%. The...
7h ago
Nintendo expects to sell 13.5 million Switch units this year
By Sam Nussey TOKYO (Reuters) - Nintendo said on Tuesday it expects to sell 13.5 million Switch consoles in the financial year ending March 2025. The Kyoto-based gaming company last year sold 15.7 million units of the hybrid home-portable device, w...
7h ago
Race for Europe's first 'real-time' stock trade tape heats up
By Huw Jones LONDON (Reuters) - Banks and asset managers are vying with Europe's exchanges to develop technology that can deepen the pool of investors in the continent's capital markets and better compete with Wall Street. The United States has lon...
8h ago
Australia's central bank holds interest rates, vigilant on inflation risks
By Stella Qiu and Wayne Cole SYDNEY (Reuters) - Australia's central bank held interest rates for a fourth straight meeting on Tuesday, while noting inflation was easing more gradually than hoped and that it was vigilant to upside price pressure ris...
8h ago
China's Zeekr to close $367.5 million New York IPO one day early, source says
By Scott Murdoch SYDNEY (Reuters) - Chinese electric vehicle maker Zeekr Intelligent Technology Holding will close its New York initial public offering (IPO) bookbuilding to raise up to $367.5 million on Wednesday, according to two sources with dir...
8h ago
UBS reports first profit since taking over Credit Suisse
By Noele Illien ZURICH (Reuters) -UBS reported net income of $1.8 billion for January-March, its first quarterly profit since it took over fallen rival Credit Suisse. The net income attributable to shareholders for Switzerland's largest bank was bette...
8h ago